Suvidhaa Infoserve Ltd

Suvidhaa Infoserve Ltd

Suvidhaa Infaserve Limited (Formerly known as Suvidhaa Infaserve Pvt. Ltd.) was incorporated on June 22 2007 under the Companies Act 1956. The Company is primarily engaged in business of providing marketplace technology services to small retail outlets like SMEs and MSMEs to drive more customers to their physical stores. By signing up with market place technology provided by Suvidhaa small retail outlets can offer additional financial and other retail products and services including insurance mutual funds utility payments travel ticketing as well as other retail products and services to their walk-in customers. The additional products and services using Suvidhaa market place technology drives new and existing customers to visit their local small retail outlets and avail such services. The retail outlets earn more from such transactions and drive customers to frequently visit their physical stores. Pursuant to demerger of E-Commerce Business Undertaking of NSI in Suvidhaa the Company can provide an affordable end-to-end marketplace technology service and become a one stop shop for small retail outlets to drive customers to both their online and offline physical stores for availing their products and services requirements.During the year pursuant to Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act 2013 the Hon'ble National Company Law Tribunal Ahmedabad Bench vide its order dated 27 November 2020 sanctioned the Composite Scheme of Arrangement amongst Infibeam Avenues Limited Suvidhaa lnfoserve Limited DRC Systems India Limited and NSI lnfinium Global Limited and their respective shareholders and creditors resulting to which SME E-Commerce Service undertaking of Infibeam was interalia transferred and vested in Suvidhaa and E-Commerce undertaking of NSI was interalia transferred and vested in Suvidhaa w.e.f 1st April 2020 i.e. the Appointed Date. As per the Order of Hon'ble National Company Law Tribunal Ahmedabad Bench the Scheme became effective upon filing of Certified Copy of Order with the Registrar of Companies (ROC) and the same has been filed on 2 December 2020 by the Company. The Record Date was set as 11 December 2020 for the purpose of determining the eligible shareholders of lnfibeam Avenues Limited and NSI lnfinium Global Limited for issuance of equity shares of Suvidhaa pursuant to the Scheme. Subsequently the Equity Shares of Suvidhaa have been listed and admitted for trading on both the Stock Exchanges i.e BSE and NSE w.e.f 31st March 2021.During the year 2021 pursuant to the sanction of the Scheme by the Hon'ble National Company Law Tribunal Ahmedabad bench vide Order dated 27 November 2020 and the Scheme becoming effective from 2 December 2020 (Effective Date) upon filing of the said Order with the Registrar of Companies Ahmedabad by Infibeam Suvidhaa DRC and NSI Suvidhaa allotted 197 fully paid up equity share of Re 1/- each of Suvidhaa Infoserve Limited for every 1500 fully paid up equity shares of Re. 1/- each held in Infibeam Avenues Limited on the Record date i.e. 11 December 2020 and 110229 fully paid up equity share of Re 1/- each of Suvidhaa Infoserve Limited for every 20 fully paid up equity shares of Rs. 10/- each held in NSI Infinium Global Limited on the Record date. Pursuant to which the paid up Share Capital of the Company increased from Rs 105801885 to Rs. 203293690.During the year 2021 pursuant to the Scheme the SME E-Commerce Service undertaking of Infibeam Avenues Limited was transferred to Suvidhaa Infoserve Limited and E-Commerce Business undertaking of NSI Infinium Global Limited was transferred into Suvidhaa. Resulting to this there was an increase in the scope of business of the Company.